The Nightcap
Nightly recap of the day's SPAC highlights (May 11th, 2021)
May 11th, 2021
Good evening,
Thanks for reading “The Nightcap”, a nightly recap of all the day’s highlights in the SPAC world. In this newsletter, you will find a breakdown of the day’s deals, IPO’s, “in talks” reports, and noteworthy new SPAC S-1 filings.
Of course, you can always discover and track all of the SPACs at spactrack.net.
The Stats:
The Deals:
1) Aurora Acquisition Corp. (AURC) & Better
$6.73B EV
$1.5B PIPE
2) Soaring Eagle Acquisition Corp. (SRNG) & Ginkgo Bioworks
Ginkgo Bioworks to Become a Public Company and Expand its Leading Platform for Cell Programming
$15.16B EV
$775M PIPE
Deal News Reports:
None today.
New S-1 Filings:
1) LTV Capital Partners I (LTVA)
$215M, 1/3 warrant
Focus: Tech
Management:
Jeffrey Housenbold (Managing Partner at SoftBank Investment Advisers, Former CEO of Shutterfly, Director of DoorDash, and Former Director of Chegg & Groupon)
Sukhinder Singh Cassidy (Former President of StubHub and Director of Upstart & Urban Outfitters)
Directors:
Philip Marineau (Former CEO of Levi Strauss & Co and Former Chairman of Shutterfly)
2) Seven Islands Inc (SVNI)
$300M, 1/4 warrant
Focus: Media, entertainment, consumer technology, healthcare, and education industries in Southeast and South Asia, with a particular focus on India.
Management:
James Murdoch (Former CEO of 21st Century Fox, Former CEO of Sky, Director of Tesla, and Former Director of GlaxoSmithKline & Sotheby’s)
Directors:
Gary Knell (Chairman of National Geographic Partners, Former CEO of the National Geographic Society, Former CEO of NPR, and Former CEO of Sesame Workshop)
3) M3-Brigade Acquisition III Corp. (Ticker not available yet)
$400M, 1/3 warrant
Focus: Companies impacted positively or negatively by the COVID-19 pandemic or businesses in the renewable energy sector
Management:
Mohsin Meghji (Managing Partner of M-III Partners)
Notable SPAC News:
1) Thyssenkrupp considers IPO or SPAC for hydrogen business - CEO (Reuters)
Thyssenkrupp is considering an initial public offering (IPO) or a deal with a special purpose acquisition company (SPAC) for its hydrogen business, Chief Executive Martina Merz said on Tuesday.
A 66-34 joint venture of Thyssenkrupp and Italy's De Nora, Thyssenkrupp Uhde Chlorine Engineers (TKUCE) is the world's largest supplier of chlor-alkali membrane technologies used to produce hydrogen.
In a call with analysts, Merz said Thyssenkrupp has hired an investment bank to explore strategic options for the business and to come up with proposals by the summer.
Upcoming Dates:
This Week’s Shareholder Meetings and Unit Splits (common shares and warrants to commence trading separately from underlying units)
Wednesday, May 12th
GreenVision Acquisition Corp (GRNV) Shareholder Meeting to Extend Deadline for Business Combination
Thursday, May 13th
Unit Splits: Supernova Partners Acquisition Co III, Ltd. (STRE), Forum Merger IV Corporation (FMIV), ArcLight Clean Transition Corp. II (ACTD), TB SA Acquisition Corp (TBSA), Gores Guggenheim, Inc. (GGPI)
Friday, May 14th
GX Acquisition Corp (GXGX) Shareholder Meeting to Extend Deadline for Business Combination
Unit Splits: Disruptive Acquisition Corporation I (DISA)
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